An approach is provided that uses a hypervisor to allocate a shared memory pool amongst a set of partitions (e.g., guest operating systems) being managed by the hypervisor. The hypervisor retrieves memory related metrics from shared data structures stored in a memory, with each of the shared data structures corresponding to a different one of the partitions. The memory related metrics correspond to a usage of the shared memory pool allocated to the corresponding partition. The hypervisor identifies a memory stress associated with each of the partitions with this identification based in part on the memory related metrics retrieved from the shared data structures. The hypervisor then reallocates the shared memory pool amongst the plurality of partitions based on the identified memory stress of the plurality of partitions.