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The term 'increase the volatility' is correct and usable in written English.
You could use it in a sentence such as, "The increased demand has increased the volatility of the stock market."
Exact(21)
That change will increase the volatility of Freddie Mac's reported earnings.
Moreover, a shaky Fannie and Freddie could increase the volatility in housing prices.
OPEC members complain that futures markets increase the volatility of oil prices.
If Mr Weill leaves that business alone, it will increase the volatility of Travelers' earnings.
As we learned during the financial crisis, speculative traders looking for outsize returns can increase the volatility of company valuations.
But a crisis at the company might increase the volatility of energy prices, which have swung wildly in the last year.
Similar(39)
So Milbury, with a volatile personality, has increased the volatility around his franchise.
Firms' debt levels rose, increasing the volatility of earnings.
This in turn increases the volatility in the share price, making shareholding a riskier overall bet in the long term.
Salt also increases the volatility of some aromatic substances in food, and it enhances our perception of some aromas, so it can make the overall flavor of a food seem more intense.
Fed officials say that they are more concerned that asset purchases will destabilize financial markets, by removing safe assets from circulation, increasing the volatility of prices, or encouraging too much speculation.
More suggestions(20)
increase the variability
increase the insecurity
rise the volatility
increase the stability
increase the destabilization
increase the uncertainty
increase the unreliability
increase the turbulence
increase the fluctuation
increase the fragility
increase the fluidity
increase the changes
increased the volatility
increase the volatile
raises the volatility
heightening the volatility
heightened the volatility
increase the instability
enhancing the volatility
increase the one
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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