This work presents the polymer composites by both exploring the nature of reinforcing nanosheets, and the polymer matrix. We show that emulsifying a sample of GO separates the sheets into fractions of differing degrees of oxidation. Our findings have demonstrated that this variation in degree of oxidation of GO plays an important role in the improvement of tensile properties of GO based polymer nanocomposites. The interaction of GO and graphene sheets with the polymer matrix plays an important role in the mechanical properties of the nanocomposites. We show that the mechanical properties are also dependent on the hydrophilic or hydrophobic nature of the polymers. We further investigate the nanocomposites that are made from oil/water emulsion systems stabilized by graphene and GO. In addition, the nature of the emulsion systems can be controlled by replacing a part of GO with graphene sheets. Graphene and GO mixture also provide a way to control the conductivity of these resultant materials.