What would happen if you took SVO and mix it with a strong off the shelf alcohol?

 I'm doing a little test experment as we speak. As you pour the alcohol ( rum in this case ) it forms a clear bubble on the bottom if you pour slow. Off the shelf rum is going to contain only about 40% alcohol and the rest is going to be water.....soooo....

 My question is.....will the water AND alcohol settle out after stirring? Or will one stay emulsified in the oil?

 Thanks...just thinking out loud