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"changing fortunes" is correct and usable in written English.
You can use it when talking about a change in fortune for something or someone, such as a country, business, or individual. For example, "Over the last decade, the town of Smithville has seen its fortunes change for the better, with new businesses and jobs coming to the area."
Exact(60)
"The name changes at major buildings in New York reflect the changing fortunes of global industries".
Infiltration by British agents, change in American attitude and stance, and the changing fortunes of the war meant the massive conspiracy for revolution within India never succeeded.
For more than half a century, he has watched hairlines recede, fashions change and lines around eyes map the advance of age and changing fortunes.
While relieved at the changing fortunes in Iraq, many Bush advisers cannot help now wondering why it took so long to change strategy.
Cynics say it simply reflects the parties' changing fortunes.
(The venue is a sign of No Age's changing fortunes.
His presence was a symbol of Wall Street's changing fortunes.
It is a real possesion in the changing fortunes of life.
Nowhere are the changing fortunes within the euro zone more apparent than in the unemployment statistics.
The differences have everything to do with the changing fortunes of the two neighbors.
Over the years, the Bears and the Packers had changing fortunes.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com