variability (n.)

late 14c., of persons, "apt to change, fickle," from Old French variable "various, changeable, fickle," from Late Latin variabilis "changeable," from variare "to change" (see vary). Of weather, seasons, etc., attested from late 15c.; of stars, from 1788.

word-forming element making abstract nouns from adjectives and meaning "condition or quality of being ______," from Middle English -ite, from Old French -ete (Modern French -ité) and directly from Latin -itatem (nominative -itas), suffix denoting state or condition, composed of -i- (from the stem or else a connective) + the common abstract suffix -tas (see -ty (2)).

Roughly, the word in -ity usually means the quality of being what the adjective describes, or concretely an instance of the quality, or collectively all the instances; & the word in -ism means the disposition, or collectively all those who feel it. [Fowler]