This is the closest thing to a "Portable Mode" available.
D:\PortableDev\ ├── AndroidStudio\ │ ├── bin\ (with custom idea.properties) │ ├── jbr\ (JetBrains Runtime) │ └── plugins\ ├── AndroidSDK\ │ ├── platforms\ │ ├── build-tools\ │ └── platform-tools\ ├── Projects\ │ └── MyApp\ └── launcher.bat android studio portable
You need folders to store settings and the SDK so they don't write to the host computer's C: drive. This is the closest thing to a "Portable Mode" available