Olympus VG-120 has a
14.0MP 1/2.3-inch (6.17 x 4.55 mm ) sized CCD sensor and features TruePic III processor. On the other hand, Canon ELPH 310 HS has a
12.0MP 1/2.3-inch (6.17 x 4.55 mm ) sized BSI-CMOS sensor .
Below you can see the VG-120 and ELPH 310 HS sensor size comparison.
Sensor Size and Resolution Comparison image of Olympus VG-120 and Canon ELPH 310 HS Cameras
Olympus VG-120 and Canon ELPH 310 HS have the same sensor sizes so they will provide same level of control over the depth of field when used with same focal length and aperture.
Sensor size sets the circle of confusion, so it drives how much depth of field each
of these bodies gives you at a given aperture. You can calculate it exactly for the
Olympus VG-120
or the
Canon ELPH 310 HS ,
including hyperfocal distance.