look ,there are two kinds of altimeters.. gps based and air pressure based,
the air pressure based altimeters are more accurate and reliable as they work even under no satellite signal receiving conditions, but theres a catch! which is that all air pressure based altimeter,s reading fluctuates with changing weather patterns ,even while lying on same elevation.
now remember: that when we gain height the air pressure decreases and vice versa, our altimeter watches have a sensor that measures this air pressure decrease and converts it into elevation we have gained....and roughly speaking with each 8 meters ascent there is decrease of air pressure of 1 hpa (or mb.)
take example now that when we are resting after a hike in mountains and stay overnight in camp ,then ideally speaking our altimeter should show the same elevation when we wake up next morning,but fact is that barometeric air pressure changes with fluctuations in weather patterns too .
so..................if we are on same elevation but a storm is approaching then barometeric pressure will very likely show a drop,this drop can be large like 6 to 10 hpa in few hours ...now for example if barometeric pressure drops 5 meters then according to above given facts the altimeter will show 40 meters gain in height though we are resting on same elevation.similarly if overnight the baro pressure increases 5 hpa (predicting better weather) then our altimeter will show 40 meters loss in height .
so thats why in view of daily fluctuations of air pressure we have to calibrate altimeters ,though other than this minor inconvenience pressure based altimeters are still very useful and accurate tools over all .
also i have observed one more interesting thing...in summers the altimeters usually gain height while in winters they lose height ,as may be in our part of world summers have lower barometeric pressure conditions
also this fluctuation in altimeter reading in same elevation can give us some rough info about upcoming weather trend....if your altimeter gains sudden height on same location then this is due to fall in air pressure and rough cloudy or rainy weather is more likely ,and on other hand if your altimeter registers noticeable decrease in height on same location then fair sunny weather is more likely