Panasonic ZR1 has a
12.0MP 1/2.3-inch (6.08 x 4.56 mm ) sized CCD sensor and features Venus Engine V processor. On the other hand, Nikon AW120 has a
16.0MP 1/2.3-inch (6.17 x 4.55 mm ) sized CMOS sensor .
Below you can see the ZR1 and AW120 sensor size comparison.
Sensor Size and Resolution Comparison image of Panasonic ZR1 and Nikon AW120 Cameras
Panasonic ZR1 and Nikon AW120 have almost the same sensor size, so neither of them has any significant advantage over the other in terms of providing control over depth of field when used with the 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
Panasonic ZR1
or the
Nikon AW120 ,
including hyperfocal distance.