"Allocation percentages" refer to the portion or division of something, usually money or resources, that is assigned to different categories or groups. It indicates how much of the total is designated for each specific category. Full definition
To return to your target asset allocation, multiply the total value of the portfolio by the target asset allocation percentage. (barbarafriedbergpersonalfinance.com)
The formula simply takes 120 minus an investor's age to calculate the stock allocation percentage e.g. 120 — 40 year old = 80 % in stocks. (financialsamurai.com)
You can control your money by moving your investment allocation percentage up or down. (debtroundup.com)