I have tried to implement a solution I found here for my problem. I do however hit a bit of a snatch. If I just add some text above and below of the example, the graph and the text get on top of each other looking like this:

I have tried to put it in a box using the package tcolorbox but that did not help. Below is my code.
Thanks for your help!
\documentclass{article}
\usepackage{amsmath} % loaded automatically by beamer
\usepackage{tikz}
\usetikzlibrary{positioning}
\tikzset{>=stealth}
\newcommand{\tikzmark}[3][]{\tikz[overlay,remember picture,baseline] \node [anchor=base,#1](#2) {#3};}
\begin{document}
Some random text. And more of it. Some random text. And more of it. Some random text. And more of it. Some random text. And more of it. Some random text. And more of it. Some random text. And more of it. Some random text. And more of it. Some random text. And more of it. Some random text. And more of it.
\begin{equation*}
\mathcal{A} = (\,\tikzmark{identity}{\texttt{I}} -\tikzmark[red]{G}{\texttt{G}}\,\,\,
\tikzmark[blue]{L}{\texttt{L}} - \tikzmark[purple]{C}{\texttt{C }}\,)
\end{equation*}
\begin{tikzpicture}[overlay, remember picture,node distance =1.5cm]
\node (identitydescr) [below left=of identity ]{words};
\draw[,->,thick] (identitydescr) to [in=-90,out=90] (identity);
\node[red] (Gdescr) [below =of G]{other words};
\draw[red,->,thick] (Gdescr) to [in=-90,out=90] (G);
\node[blue,xshift=1cm] (Ldescr) [above right =of L]{some words};
\draw[blue,->,thick] (Ldescr) to [in=45,out=-90] (L.north);
\node[purple] (Cdescr) [below right =of C]{more words};
\draw[purple,->,thick] (Cdescr) to [in=-90,out=90] (C.south);
\end{tikzpicture}
Some random text. And more of it. Some random text. And more of it. Some random text. And more of it. Some random text. And more of it. Some random text. And more of it. Some random text. And more of it. Some random text. And more of it. Some random text. And more of it. Some random text. And more of it. Some random text. And more of it. Some random text. And more of it. Some random text. And more of it. Some random text. And more of it. Some random text. And more of it. Some random text. And more of it. Some random text. And more of it. Some random text. And more of it. Some random text. And more of it. Some random text. And more of it.
\end{document}
