ArrayList, as the name suggests, is implemented as an array (as opposed to a linked list). By specifying the initial size, you can prevent having to grow the array when adding elements. This is an expensive operation, a new array must be created and then the existing elements copied. So, if you know the max values ahead of time, you should never have to do this.
In reality, if the size of your list is 50 and there is only one instance of this array, the array will only be expanded a few times, so in this case it might not matter. Still, your approach is good in case you change the variable later.