Background: Abnormal performance monitoring is a possible transdiagnostic marker common across psychopathology. Most research on neural indices of performance monitoring, including the error-related negativity (ERN), has examined group and interindividual (between-person) differences in mean/average scores. Intraindividual (within-person) variability in neural activity captures the capacity to dynamically adjust from moment to moment, and excessive neural variability appears maladaptive. Intraindividual variability in ERN represents a unique and largely unexplored dimension that might impact functioning. We tested whether psychopathology group differences (major depressive disorder [MDD], generalized anxiety disorder [GAD], obsessive-compulsive disorder [OCD]) or corresponding psychiatric symptoms account for intraindividual variability in single-trial ERN scores. Methods: ERN was recorded in 51 participants with MDD, 44 participants with GAD, 31 participants with OCD, and 56 psychiatrically-healthy control participants. Multilevel location-scale models were used to simultaneously examine interindividual and intraindividual differences in ERN amplitude. Results: Analyses indicated considerable intraindividual variability in ERN that was common across all groups. However, we did not find strong evidence to support clinical differences in ERN when examining traditional diagnostic categories or relationships with transdiagnostic symptoms. Conclusions: These findings point to important methodological implications for studies of performance monitoring in healthy and clinical populations—the common assumption of fixed intraindividual variability (i.e., residual variance) is inappropriate for ERN studies in clinical or healthy populations. Implementation of multilevel location-scale models in future research can leverage between-person differences in intraindividual variability in performance monitoring to gain a rich understanding of the trial-to-trial dynamics of performance monitoring.