The Filesystem Hierarchy Standard (FHS) defines the main directories and their contents in Linux operating systems and according to that, there should be a directory called /var/ where variable files, files whose content is expected to continually change during normal operation of the system, such as logs and spool files should be stored there.
It might be a good idea to have this directory on a separate disk from / and /swap since all these folders have lots of I/O operations and it is a known fact that hard disks have limited capabilities and usually hard disk are slowing down a system. By having /var on another disk it should help increase the I/O capabilities of the system drastically and improve system performance.
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