Red Tips

This graph shows percent change from the previous quarter of household assets, with blue for total assets, and red for financial assets:

Graph #1: Percent Change in Total Assets (blue) and Total Financial Assets (red)
Quarterly Data

Notice the red tips on all the high and low points. Tells me that the change in financial assets is consistently more volatile than the change in total assets.

Assuming "total" assets is the sum of financial and non-financial assets, the graph tells me that the difference in volatility would be even more if we compared financial assets to non-financial assets.

To do that, look at financial assets and (total assets less financial assets):

Change in Total Financial Assets (red; same as Graph #1) and Total Non-Financial Assets (blue)

The difference in volatility is much greater in this graph. Non-financial assets, consistently, are far more stable than financial assets.