We analyze supersymmetric contributions to ${B}_{s}$ mixing and their impact on mixing-induced CP asymmetries, using the mass insertion approximation. We discuss in particular the correlation of supersymmetry (SUSY) effects in the CP asymmetries of ${B}_{s}\ensuremath{\rightarrow}J/\ensuremath{\psi}\ensuremath{\varphi}$ and ${B}_{d}\ensuremath{\rightarrow}\ensuremath{\varphi}{K}_{S}$ and find that the mass insertions dominant in ${B}_{s}$ mixing and ${B}_{d}\ensuremath{\rightarrow}\ensuremath{\varphi}{K}_{S}$ are $({\ensuremath{\delta}}_{23}^{d}{)}_{LL,RR}$ and $({\ensuremath{\delta}}_{23}^{d}{)}_{LR,RL},$ respectively. We show that models with dominant $({\ensuremath{\delta}}_{23}^{d}{)}_{LR,RL}$ can accommodate a negative value of ${S}_{\ensuremath{\varphi}{K}_{S}},$ in agreement with the Belle measurement of that observable, but yield a ${B}_{s}$ mixing phase too small to be observed. On the other hand, models with dominant $({\ensuremath{\delta}}_{23}^{d}{)}_{LL,RR}$ predict sizable SUSY contributions to both $\ensuremath{\Delta}{M}_{s}$ and the mixing phase, but do not allow the asymmetry in ${B}_{d}\ensuremath{\rightarrow}\ensuremath{\varphi}{K}_{S}$ to become negative, except for small values of the average down squark mass, which, in turn, entail a value of $\ensuremath{\Delta}{M}_{s}$ too large to be observed at the Fermilab Tevatron and CERN LHC. We conclude that the observation of ${B}_{s}$ mixing at hadron machines, together with the confirmation of a negative value of ${S}_{\ensuremath{\varphi}{K}_{S}},$ disfavors models with a single dominant mass insertion.
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