There is also a lateral component to the barrel harmonics. It's part of a rotational component. Also, anything touching the barrel inside the forend channel will influence where the muzzle is pointed when the bullet exits. Sometimes it appears to be totally random, but it really isn't. It's just that it's darn near impossible to figure out what is causing the discrepancy, so it may as well be random. Things like powder burn rate affect the vibration pattern of the barrel, and the amount of time the bullet is in the barrel is a player as well. It's reasonable to expect that an extra 100 fps could make a big difference, both up & down and left/right.
Sometimes backing off the load to change velocity just a tad will make one bullet print where the other does, removing the necessity to dial the scope when you use the other load. Chasing this down would be a very frustrating process, but with all the ladder testing a lot of guys are doing, one might find a load in a slower accuracy node that happens to have a POI that coincide with where his other loads prints.
Years ago, I had what was then a heavy-bullet load for my 22-250 ( 64-grain Winchester Power Point ) and at the highest safe velocity, it shot six inches away from where my woodchuck load grouped. This necessitated dialing the scope adjustments, and back when Leupold scopes had the friction-type adjustments ( no clicks ) this was a pain in the keester. I had happened to notice when I was doing my pressure testing that a load that shot 50 fps slower hit right where the woodchuck load shot, and it shot nickel-sized groups at 100 yards - plenty well enough to shoot whitetails in the woods out to about 150 yards. So, I went out and shot a bunch of does with this meat-saver load, and didn't have to touch the scope adjustments at all after shooting woodchucks all summer long with my 55-grain load. Why the faster load with the heavier bullet behaved the way it did doesn't matter to me. That can be dealt with easily enough.