Thois is a sample coefficient. It is not the population coefficient. The sample coefficient is larger

or smaller than the true popuölation cvoefficient, due to sampling error. But in the present case,

the sampling error is small, because the sample size is large. So maybe the true coefficient is

near 0.28. Whether this large or small, depends on the field of study. In psychology, sociology,

medicine, biology r=0.3 is often considered medium sized. But if you had reason to assume

a coefficient of size r=0.8 or so, then 0.28 would obviously be small.

With kind regards

Karabiner