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The interweave of competing individual relaxations influenced by the presence of temperature and concentration dependent correlations is an intrinsic feature of superparamagnetic nanoparticle suspensions. This unique combination gives rise to multiple applications of such suspensions in medicine, nanotechnology and microfluidics. Here, using theory and experiment, we investigate dynamic magnetic susceptibility in a broad range of temperatures and frequencies. Our approach allows, for the first time to our knowledge, to separate clearly the effects of superparamagnetic particle polydispersity and interparticle magnetic interactions on the dynamic spectra of these systems. In this way, we not only provide a theoretical model that can predict well the dynamic response of magnetic nanoparticles systems, but also deepen the understanding of the dynamic nanoparticle self-assembly, opening new perspectives in tuning and controlling the magnetic behaviour of such systems in AC fields. © 2016 the Owner Societies.