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As cloud computing grows rapidly and virtualization techniques become more widely-used, it is critical and important to allocate limited resources to various applications on demand for the cloud service environments. In this article, we propose an adaptive resource management approach considering multi-resource transformation to fully utilize extra resource capacity. The definition of the optimization problem concerning resource co-allocation is presented and then an optimization algorithm is developed and described, which carries out stochastic and directional search step by step to jointly schedule different resources. The evaluation results of simulation experiments demonstrate that by using the resource co-allocation approach we designed, the performance of different applications deployed in the cloud environment could be guaranteed subject to the QoS (Quality of Service) specification, despite of the significant fluctuation of workloads.