Decrease in Codechef rating

Can anyone tell me why my codechef rating got decreased by 63?

I don’t see any decrease

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look at my highest rating, it was 1500, but now its 1437. I don’t even know when this happened.

Because you performed poorly as compared to others in August challenge 2020.

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oh, poor performance results in rating decrease? I didn’t know that. Thanks, Also, if I do not take part in any contest for a month, will that affect my rating?

If you don’t take part nothing will happen to your rating.

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ohkk, thanks for the info!