portion vs allocate

portion is a noun but allocate is not a noun.

Word	Noun	Adjective	Verb	Adverb
portion	Yes	No	Yes	No
allocate	No	No	Yes	No

As verbs, allocate is a hyponym of portion; that is, allocate is a word with a more specific, narrower meaning than portion:

Other hyponyms of portion include allow, appropriate, earmark, reserve, set aside, apportion.

portion (noun)	allocate (noun)
the allotment of some amount by dividing something
something less than the whole of a human artifact
an individual quantity of food or drink taken as part of a meal
assets belonging to or due to or contributed by an individual person or group
money or property brought by a woman to her husband at marriage
something determined in relation to something that includes it
your overall circumstances or condition in life (including everything that happens to you)

portion (verb)	allocate (verb)
give out	distribute according to a plan or set apart for a special purpose