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-->J/psiphi and B-d-->phiK(S) and find that the mass insertions dominant in B-s mixing and B-d-->phiK(S) are (delta(23)(d))(LL,RR) and (delta(23)(d))(LR,RL), respectively. We show that models with dominant (delta(23)(d))(LR,RL) can accommodate a negative value of S-phiKS, 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 (delta(23)(d))(LL,RR) predict sizable SUSY contributions to both DeltaM(s) and the mixing phase, but do not allow the asymmetry in B-d-->phiK(S) to become negative, except for small values of the average down squark mass, which, in turn, entail a value of DeltaM(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-phiKS, disfavors models with a single dominant mass insertion.