Now I can compute volatility for the internal market. Here is the one hour scale per day volatility:

I forgot when Hive launched so I am probably picking up on some Steem data. I am also guessing that computing volatility on day basis might not be so useful. Maybe 5 min per hour? Maybe implied volatility would be interesting too but I am not sure what to reference HBD/HIVE against. Maybe Bitcoin/Ethereum?