batch save as layer to relative path in ArcPy

I would like to use a similar code as below, but one that uses relative paths. Since my input is a batch of tif files (not layers), I do not know if I need to use other functions like arcpy.SaveToLayerFile_management or os.path. Any ideas would be much appreciated!

import arcpy

mxd = arcpy.mapping.MapDocument("CURRENT")

for lyr in arcpy.mapping.ListLayers(mxd):

    lyr.saveACopy(lyr.name + ".lyr")