Density and solubility are not the same thing.
are you asking the same question as dan here: https://forum.solidworks.com/thread/79867?tstart=0
what do you look to learn in this study?
my gut feeling is that it is possible but you have to remember that flow simulation will also mix the fluids based on the lewis number. this is well document in the KB and how it is related to the fluid properties for heat transfer.