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'is volatile' is a correct and usable phrase in written English.
You could use it to describe something that is likely to change quickly or suddenly, e.g. "The stock market is volatile, so it's important to tread carefully when investing."
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Exact(60)
"This thing is volatile".
True, this growth is volatile.
Life, after all, is volatile.
He is volatile and talkative.
The situation is volatile.
"It is volatile.
Even his supporters admit he is volatile.
But the money is volatile.
But taste is volatile, fugitive.
If the market is volatile, it increases".
"The situation is volatile," he said.
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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