$ grep -iC1 relocatable INSTALL

=head2 Relocatable @INC

To create a relocatable perl tree, use the following command line:

    sh Configure -Duserelocatableinc

--
can be configured on a per-directory basis, although the default with
"-Duserelocatableinc" is that everything is relocated. The initial
install is done to the original configured prefix.

$ grep -iC1 Would.*relocatable  Configure

Would you like to build Perl so that the installation is relocatable, so that
library paths in @INC are determined relative to the path of the perl binary?