variegation vs variability

variegation and variability both are nouns.

Word	Noun	Adjective	Verb	Adverb
variegation	Yes	No	No	No
variability	Yes	No	No	No

As nouns, variability is a hypernym of variegation; that is, variability is a word with a broader meaning than variegation:

Other hypernyms of variegation include variableness, variance.

variegation (noun)	variability (noun)
the act of introducing variety (especially in investments or in the variety of goods and services offered)	the quality of being subject to variation
variability in coloration	the quality of being uneven and lacking uniformity