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XZ Tau AB is a frequently observed binary young stellar object in the Taurus Molecular Cloud; XZ Tau B has been classified as an EXOr object. We present new Chandra/HETG-ACIS-S observations of XZ Tau AB, complemented with variability monitoring of the system with XMM-Newton, to constrain the variability of this system and identify high-resolution line diagnostics to better understand the underlying mechanisms that produce the X-rays. We observe two flares with XMM-Newton but find that outside of these flares the coronal X-ray spectrum of XZ Tau AB is consistent over 20 yr of observations. We compare the ensemble of XZ Tau AB X-ray observations over time with the scatter across stars observed in point-in-time observations of the Orion Nebula Cluster and find that both overlap in terms of plasma properties, i.e., some of the scatter observed in the X-ray properties of stellar ensembles stems from intrinsic source variability.