said of a substance: capable of being readily vaporized at a relatively low temperature
characterized by rapid change
said of a situation: dangerously unstable
said of a person: frivolously changeable; fickle
light-hearted; lively
lasting only a short time
the volatile joys of love
said of a computer memory: not retaining stored data when the power supply is cut off
volatility /-ʹtiliti/ noun
[Middle English via Old French from Latin volatilis winged, flying, from volare to fly]